2 year discount 75% loan to value

Discounted for 2 years

Early Repayment Charges apply.

This product may be withdrawn at any time.

 
arrangement fee
This can be paid up-front or added to the mortgage. Bear in mind that if you add the fee to your mortgage, you'll pay interest on it at the same rate as your mortgage and as a result will pay more interest over the term of your mortgage.
£999
booking fee
This fee must be paid when you apply for your mortgage.
no fee
initial rate
3.00% discount from our Standard Variable Rate for 2 years
1.99%
followed by our SVR
Our Standard Variable Rate (or SVR) reflects our cost of lending using a number of factors, including the Bank of England Base Rate. As the SVR is a variable rate it can change at any time.
4.99%
the overall cost for comparison is 4.2% APRC
 

Product key features

Product related fees

There is an arrangement fee of £999. This fee can be paid up front by deducting the fee from the amount you borrow. Alternatively you can add the fee to the mortgage amount.

If you add the fee to your mortgage you will pay interest on the fee at the same rate as your mortgage.

Product incentives

Valuation fee contribution: We'll cover the cost of one standard mortgage valuation on a property valued up to £400,000. You can choose to have a RICS Homebuyers Report, however you'll have to cover the difference in cost.

Fees assisted legals: We'll cover the costs of any standard legal fees involved. You will have to pay any non-standard costs and you'll be advised if any should apply. If you choose to use our own conveyancers they'll only act for us and not for you during the remortgage transaction. If you need to add or remove a name on the mortgage you must appoint your own solicitors, and you'll receive £150 cashback towards your costs.

Mortgage amounts

The minimum mortgage amount is £50,000 and the maximum is £450,000.

There is a minimum property valuation of £75,000 which increases to £250,000 for properties located within the M25 corridor.

The maximum loan to value is 75%.

Interest rate floor

Your interest rate is floored which means that the rate cannot reduce below 1.99%.

Mortgage repayment terms

The minimum repayment term is 5 years and the maximum repayment term is 35 years.

Early Repayment Charges

We allow you to overpay 10% of the original mortgage amount each year without charge. If you switch products or redeem during the product term you will be subject to the full Early Repayment Charge.

The Early Repayment Charge will be:

  • 2% of the amount repaid during the first year; and
  • 1% of the amount repaid during the second year.
Mortgage tariff of charges

The mortgage tariff of charges details the various fees and charges that may apply during the term of your mortgage.

Representative example

A mortgage of £260,000 payable over 13 years initially on a discounted variable rate for 2 years from inception, currently 1.99% (equal to a 3.00% discount from our SVR) and then our SVR, currently 4.99% for the remaining term would require an initial payment of £1,914.43 followed by 23 monthly payments of £1,900.18 and 132 monthly payments of £2,219.44.

The total amount payable would be £338,919.65 made up of the mortgage amount plus interest (£78,584.65) with a mortgage arrangement fee of £999, a mortgage valuation fee of £185, a telegraphic transfer fee of £25 and mortgage exit fees of £125.

The overall cost for comparison is 4.2% APRC representative.

Laurence, our Mortgage Adviser is here to help 0121 557 2551* Contact Us
Our lines are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

We are happy to help you...

  • Find the best mortgage for you
  • Answer any questions
  • Discuss your existing account
  • Book a mortgage appointment

Our mortgage customers say

"You soon get to know the people you are dealing with, which helps to take the stress out of your mortgage." Mrs Main
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Our mortgage customers say

"My experience with the Society has allowed me to get a mortgage I am happy with and I know they are only at the other end of the phone if and when I need them." Miss Savell-Boss
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Your home may be repossessed if you do not keep up repayments on your mortgage.